Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric M. Dube Sells 10,736 Shares

Travere Therapeutics, Inc. (NASDAQ:TVTX) CEO Eric M. Dube sold 10,736 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total transaction of $208,922.56. Following the completion of the transaction, the chief executive officer now directly owns 351,239 shares in the company, valued at $6,835,110.94. The trade was a 2.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $20.31 on Friday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. Travere Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $21.56. The business has a 50 day moving average price of $18.33 and a 200-day moving average price of $14.87.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. The business had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company’s revenue was up 69.6% on a year-over-year basis. During the same quarter last year, the firm earned ($1.17) EPS. Equities analysts forecast that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TVTX. Jennison Associates LLC purchased a new stake in Travere Therapeutics in the 4th quarter worth approximately $14,222,000. Millennium Management LLC raised its holdings in shares of Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after acquiring an additional 747,406 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Travere Therapeutics by 203.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock worth $5,055,000 after acquiring an additional 412,000 shares during the period. abrdn plc bought a new stake in Travere Therapeutics in the fourth quarter valued at $6,829,000. Finally, Emerald Advisers LLC increased its position in Travere Therapeutics by 19.8% during the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after purchasing an additional 323,513 shares during the period.

Analyst Ratings Changes

Several research analysts recently issued reports on TVTX shares. Leerink Partners reiterated an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Piper Sandler upped their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Cantor Fitzgerald began coverage on Travere Therapeutics in a report on Friday, January 10th. They set an “overweight” rating on the stock. Bank of America upped their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright increased their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.00.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.